Exchanges

The first decision you must make is to decide which exchange(s) you would like to use. The spot exchange that you chose to use depends heavily upon where you live. If you are US-based, take a look at the pros and cons of the exchanges below. Non-US traders, take a look further below. 

 

Exchanges: US

 

FTX US

 

Pros:

  • Mid-tier fees (.1% limit order, .2% market order at base)
  • Trusted
  • Good coin selection

 

Cons: 

  • Liquidity issues
  • Tough to meet requirements for margin borrowing/lending

 

Join FTX US by clicking here

 

Gemini

 

Pros: 

  • Low market order fee at base (.2% limit order, .4% market order)
  • Easy to lend and earn with USD and/or BTC, with instant access to lended funds
  • Regulated and safe

Cons

  • Tough to use exchange
  • Unclear liquidity at times

 

Join Gemini by clicking here

 

Coinbase

Coinbase Pro has recently merged with Coinbase — but only make trades under the ‘advanced trade’ column

Pros: 

  • Most popular exchange in the United States
  • Incredibly liquid
  • Diverse selection of coins
  • Likely the safest exchange on the planet
  • Fully regulated within the US with FDIC insurance

Cons: 

  • High base fees (0.4% limit order, 0.6% market order at base)
  • Lack of other features besides standard spot trading
  • Occasional site lag

 

Join Coinbase by clicking here 

 

Robinhood Crypto

 

Pros:

  • No fees 
  • Incredibly simple to use 
  • Safe and regulated within the US

 

Cons

  • You don’t actually own the crypto 
  • Limited coin selection

 

Join Robinhood by clicking here (must be on mobile)

 

Binance US

 

Pros: 

  • Low fees (0.1% all transactions)
  • Currently 0% fees when trading Bitcoin (as of August 2022)
  • Good user security
  • Large list of coins to trade 

 

Cons 

  • Not available in all states
  • Poor Liquidity 

 

Join Binance US by clicking here

 

Exchanges: Non-US

 

If you reside outside the US, you will find a much larger array of crypto exchanges with many more ways in which you can speculate. 

 

Binance

 

Pros:

  • Many staking and lending options
  • Low fees at base (maximum of 0.1% on all transactions)
  • Most popular exchange in the world 
  • Great liquidity 

 

Cons:

  • Tough account verification 
  • Has had regulatory trouble

 

Join Binance by clicking here

 

FTX

 

Pros:

  • Great lending possibilities 
  • Very low fees (base fees of 0.02% limit orders, 0.07% market orders)
  • Well trusted
  • Easy verification process 
  • Good liquidity 

 

Cons: 

  • No live chat support

 

Join FTX by clicking here

 

OKX

 

Pros: 

  • Great versatility of lending/staking 
  • Reasonable fees (base fees of 0.08% limit orders, 0.1% market orders)

 

Cons: 

  • Customer service issues reported 
  • Chinese market focus (potential language barrier/mistranslations for ENG speakers)

Join OKX by clicking here

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